Good news for all iPhone users out there is that GeoHotz is all set and ready to release the new Blacksn0w Unlock Tool to the masses.
All the testing has been done and according to him, it will work with any iPhone on the Firmware 3.1.2, even those with the 05.11.07 baseband.

For a moment if we don’t let go of our sanity, a rational observation makes us to believe that Apple has no plans to release the next-generation iPhone anytime soon.
But a recent discovery by Gizmodo suggests otherwise and provides enough evidence for us to speculate over whether or not Apple has any plans to release [...]

According to a tweet posted by GeoHotz a couple of minutes ago, the Blacksn0w tool to Unlock the iPhone on baseband 05.11.07 shall work for both the iPhone 3G and the iPhone 3GS.
This is big news for all users out there since they would be able to unlock the iPhone recently purchased from an Apple [...]

GeoHotz, the renowned iPhone hacker to provide a hardware unlock technique for the first generation iPhone, is now back with another blow.
According to a post on his blog, he has been successful in trying to execute an arbitrary code on an iPhone with the baseband 05.11.07 which is currently not unlock-able.

A while back on this blog, we shared a utility named Push Fix to help users with a Jailbroken iPhone to enable Push Notifications on the iPhone instantly.
Today, through an intimation on RedmondPie, we are pleased to inform that the same utility can be used by users with a Jailbroken and Unlocked iPhone to enable [...]

The iPhone Dev team released the PwnageTool 3.1.4 a couple of days ago which allows users on a Mac to Jailbreak and Unlock the iPhone 2G, 3G and the iPhone 3G[S] on Firmware 3.1.2. I haven’t been able to post the tutorial due to a busy routine so I am providing the hacktivated firmware for [...]

The iPhone Dev team has no plans to release and PwnageTool for Windows users and since there also isn’t any ETA on the release of Redsnow, so we have created a Custom/Hacktivated IPSW for iPhone 3GS users who want to update to Firmware 3.1 while preserving the baseband.

Only users with a previously Jailbroken iPhone 3GS [...]

Follow the steps below to Jailbreak and then Unlock your iPhone 3GS on Firmware 3.1 without having to update the baseband. Please proceed at your own risk.

Another important note is to remember that the method only works for those who already have a previously-Jailbroken iPhone 3GS on an old firmware. Users with Out-of-the-box device shouldn’t [...]

Its Christmas everywhere for iPhone 3GS users today as the dev team has just released the new version of PwnageTool which will now allow them to update to Firmware 3.1 while preserving the old baseband, which means that users will be able to Jailbreak and even Unlock their iPhone 3GS on Firmware 3.1.

Though of course [...]

Oh we have a very good news for all those Windows users out there. You will now be able to unlock the iPhone 2G/3G right away without having to wait for the Redsnow tool.
PwnageTool 3.1 was released earlier today by the dev team but the fact that it can only be used by Mac users [...]